I guess that's why it isn't being done. Has anyone tried it on Vegas 7 with two fast machines over gigabit?

How about using the cineform intermediate codec? Has anyone done a test on Vegas 7 comparing render times with .m2t files and cineform .avi files?

The viability/value in network rendering is entirely project-dependent. If you've got a short project, network rendering likely won't save you much time. If you have feature length/long form, and are outputting to any intraframe format, then network rendering is a huge timesaver. If your project has heavy compositing, network rendering is a big timesaver.
We only use it for final masters, but there are folks using it for everything they do.

Could someone explain what "intraframe" formats are? Does network rendering work if you're going to convert to MPEG2 for DVD?

Thanks